I have read that the Goldex deposit is the largest gold occurrence in Quebec. Agnico knew what they were doing acquiring our western claims. Selling the 5% royalty interests would be a mistake right now. As an exploration company, the future payments from Agnico will nicely hedge our expected increased drilling expenses. Taking a lump sum cash trade-off for our royalty interests works only if Borden Lake pans out and those funds could be used more productively for a greater return.

The rising copper prices have been addressed earlier and in the opinion of accomplished analysts, they are headed much higher. As I mentioned on an earlier post, Stephen Leeb has predicted that copper will move higher by a factor of 10. Probe has copper and it will benefit on an extremely leveraged basis going forward. It would not surprise me at all if a Chinese mining company comes into play wanting our Ring of Fire assets along with other companies that hold adjacent and nearby claims. Do not underestimate China's thirst for natural resources as there is a big push in place to reduce their US dollar holdings into hard assets. Personally, I suspect the Chinese are waiting for the Euro to collapse before they blow-out of their position on temporary dollar strength.

I read yesterday that there currently is only 0.80% of global assets invested in gold and gold mining companies. This is about 4% for comparative purposes that was invested in the sector in 1981. If you are a contrarian, you have to love this. Our increasing exposure to gold is the place to be. Dave will be 100% correct with his recent moves when he delivers us to the promised land of increased wealth and financial independence.